Exemption u/s 35AC - Central Government had specified, for construction, equipments, vans, furnishing and running of home for spastics by Handicapped Children's Parents Association, New Delhi, as an eligible project or scheme - 290(E) - Income Tax

Exemption u/s 35AC - Central Government had specified, for construction, equipments, vans, furnishing and running of home for spastics by Handicapped Children's Parents Association, New Delhi , as an eligible project or scheme NOTIFICATION NO. 290(E) DATED 28-3-2001 Whereas by notification of the Government of India in the Ministry of Finance Number S.O. 388(E), dated the 19th May, 1997, issued under clause ( b ) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 25, for construction, equipments, vans, furnishing and running of home for spastics at Sector-7, Papankala, Dwarka, New Delhi, by Handicapped Children's Parents Association, B-2-37, Safdarjung Enclave, New Delhi, as an eligible project or scheme for a period of three years beginning with the assessment year 1998-1999 ; And whereas the said project or scheme is likely to extend beyond three years ; And whereas the National Committee has being satisfied that the said project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962, for specifying the said project or scheme for a further period of three years ; Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause ( b ) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction, equipments, vans furnishing and running of home for spastics at Sector-7, Papankala, Dwarka, New Delhi, which is being carried out by Handicapped Children's Parents Association, B-2-37, Safdarjung Enclave, New Delhi, at the estimated cost of rupees two crores forty five lakhs plus a corpus fund of rupees one crore only, as an eligible project or scheme for a further period of three years beginning with the assessment year 2001-2002. [No. 90-2001-F. No. N. C. 123-2000]